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Wednesday, June 23, 2021

Alterity Therapeutics Limited (ATHE) stock is rallying on Wednesday’s pre-market but why?

Alterity Therapeutics Limited (ATHE) shares jumped in pre-market on Wednesday, April 21, 2021.  ATHE’s stock lost 2.34% to close Tuesday’s session at $1.25. ATHE shares have soared 100.03% over the last 12 months, and they have lost only 0.79% in the past week. Over the past three months, the stock has lost 24.70%, while over the past six months, it has shed 32.06%.


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Let’s have a look at ATHE recent news

Participation in the Global Life Science Conference

Alterity Therapeutics participated in the HC Wainwright Global Life Science Conference and the CEO of the company Dr. Stamler represented the company and gave a presentation to the investors virtually.

His presentation focused on

  • The progress of the company’s lead compound ATH434 for the treatment of Multiple System Atrophy (MSA);
  • Expanded safety data on ATH434;
  • Update on a Natural History Study in MSA at Vanderbilt University Medical Center in the US which is providing important data to inform and de-risk the phase 2 clinical study;
  • The expected commercialization pathway for ATH434 including the initiation of Phase 2 clinical trial; and
  • The underlying science.

Participation in 7th International Congress of Multiple System Atrophy

ATHE participated in a virtual format at the 7th International Congress of Multiple System Atrophy (MSA2021), which held between February 26-27, 2021.

The event was a world-leading conference on Multiple System Atrophy (MSA), and the ATHE presentation was featured as part of the Congress’ poster presentations and it is available online and access is only on demand.

2nd Grant from The Michael J. Fox Foundation

On February 9, 2021, ATHE confirmed the 2nd grant from The Michael J. Fox Foundation for Parkinson’s research. The US$495,000 funding will be used to determine the optimal dosing of its lead drug candidate ATH434 for Parkinson’s disease based on imaging of brain iron.

Partnership with UniQuest

On December 21, 2020, Alterity Therapeutics received a licensefrom UniQuest to novel zinc ionophore technology to combat antimicrobial resistance in superbugs.

The license has given Alterityworldwide exclusive right to patented technology to develop and commercialize therapies that re-sensitize bacteria to antibiotics.

Approval of a new composition of matter patent

On November 16, 2020, Alterity Therapeutics announced the approval of a new composition of matter patent by the United States Patent and Trademark Office (USPTO).

This new patent will help Alterity’s next-generation drug development portfolio focused on neurodegenerative diseases.

Conclusion

There is no recent news in April 2021 about the company so we can assume that the ATHE will continue its positive momentum, based on its past performance.

About ATHE

Alterity Therapeutics was founded in Melbourne, Australia in 1997 as Prana Biotechnology. The company has offices in Melbourne, Australia, and San Francisco, USA. ATHE lead candidate, ATH434 (formerly PBT434), is the first of a new generation of small molecules designed to inhibit the aggregation of pathological proteins implicated in neurodegeneration. ATH434 has been shown to reduce abnormal accumulation of α-synuclein and tau proteins in animal models of disease by redistributing labile iron in the brain. In this way, it has the potential to treat Parkinson’s disease and atypical forms of Parkinsonism such as Multiple System Atrophy (MSA) and Progressive Supranuclear Palsy (PSP).

David Stamler, M.D. is the current CEO of the ATHE. He was appointed CEO in January 2021. Before joining Alterity, Dr. Stamler Teva Pharmaceutical Industries from 2015 to 2017. He has rich 20 years plus experience in the medical field. Dr. Stamler received an M.D. from the University of Chicago, The Pritzker School of Medicine, and a B.A. in Biology from the University of Chicago.

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